DUBLIN--(BUSINESS WIRE)--The "Organ Preservation Market by Solution (UW/Custodiol HTK/Perfadex), Technique (Static Cold Storage/Hypothermic Machine Perfusion/ Normothermic Machine Perfusion), Organ Type (Kidneys/Liver/Lungs/Heart), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global organ preservation market is projected to reach USD 284 million by 2024 from USD 207 million in 2019, at a CAGR of 6.5%.
The growth of the organ preservation market is mainly driven by the increasing incidence of multi-organ failure, the growing geriatric population, the rising number of organ transplants and organ donors, and increasing initiatives to encourage organ donations. However, the high cost of organ transplantations and religious concerns in specific geographies are expected to limit market growth to a certain extent.
The University of Wisconsin (UW) holds the market share in the solutions market
Based on the Solution, the segment is divided into UW, Custodial HTK, Perfadex and Other solutions (EuroCollins and Celsior). In 2019, the UW solution accounted for the highest share of 92.92 USD million in 2019. The UW solution is used for the flushing and storage of kidneys, liver, and pancreas. It was the first intracellular preservation medium, considered the gold standard for organ preservation. Paradox accounts for the most considerable CAGR in the forecast period of 2019-2024.
Normothermic Machine Perfusion accounts for the highest CAGR in the forecast period
Normothermic machine perfusion marked the highest CAGR in the forecast period of 2019 to 2024. Normothermic perfusion is a technique that recreates the physiologic environment by maintaining average organ temperature and providing essential substrates for cellular metabolism, oxygenation, and nutrition. It is said to enhance the safety and efficacy of the organ and improve repair before transplantation. The normothermic technique is said to reduce the pro-inflammatory response in the liver and the risk of ischemic injuries while promoting graft regeneration. The possibility of long-term graft survival and reduced delayed graft functioning in organs of marginal quality (such as those from older donors) has made normothermic machine perfusion increasingly relevant.
Static cold storage and hypothermic machine perfusion are the other techniques involved in this segment.
Kidneys hold the highest share in the segment by organ type
Kidneys account for a market share in the organ segment. Renal transplantation is considered the treatment of choice for patients with end-stage renal disease (ESRD) or kidney failure, diabetes, etc. are all cause for the growth of this segment. Other causes of ESRD in adult patients are polycystic kidney disease and glomerulonephritis. With the rising incidence of diabetes, the number of patients with ESRD or kidney failure is expected to increase, which will drive demand for kidney transplants. Moreover, improvements in graft survival and long-term graft function have made kidney transplantation a cost-effective alternative to dialysis. Major organs like Lungs, Liver, Kidney and Heart are a part of this segment.
The Asia Pacific to witness the highest growth during the forecast period
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2019-2024. The major factors driving the growth of the Asia Pacific market include favorable government initiatives, increased awareness in people and increased organ donations. Intensified public education, mobilization, and advancements in organ transplant technologies have improved the donation rate in China.
In India, Rapid improvements in the country's healthcare infrastructure have supported market growth while encouraging medical tourism. The willingness to donate organs in Japan has led to the improvement in organ donation despite religious issues. Other countries have initiative reimbursement programs, paired organ donation scheme with other patients within the country and across countries, have improved the growth of this market drastically.
XVIVO Perfusion AB (Sweden), Paragonix Technologies (US), Dr. Franz Kohler Chemie GMBH (Germany) are the leading players in the organ preservation market.
Key Benefits of Buying the Report:
This report focuses on various levels of analysis - industry trends, market shares of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the organ preservation market, and their drivers, restraints, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the organ preservation market.
- Rising Instances of Multiple Organ Failure and Growth in the Geriatric Population
- Increasing Initiatives to Encourage Organ Donation
- Rising Number of Organ Donors and Solid Organ Transplantation Procedures
- High Cost of Organ Transplantation
- Religious Concerns and Misconceptions
- Significant Gap Between the Number of Organs Donated and Organs Required Annually
- Development of Artificial Organs
- Paragonix Technologies
- XVIVO Perfusion AB
- Dr. Franz Khler Chemie GmbH
- Essential Pharmaceuticals
- Organox Limited
- 21st Century Medicine
- Shanghai Genext Medical Technology
- Bridge to Life Limited
- Waters Medical Systems
- Preservation Solutions
- Transplant Biomedicals
- Organ Assist
- Institut Georges Lopez
- Global Transplant Solutions
- Organ Preservation Solutions
For more information about this report visit https://www.researchandmarkets.com/r/ymlkhz